Moniz talks energy and climate policy

On Monday at Columbia University’s Center on Global Energy Policy, Ernest Moniz delivered his first major energy policy speech since being sworn in as U.S. Secretary of Energy in May. The talk elaborated on top issues of the Obama administration’s Climate Action Plan, including renewable energy loan programs, climate change, energy efficiency, and grid resilience.

During the address, Moniz stressed the importance of clean energy loans for the nation’s energy future. He reminded listeners that despite some DOE loan program failures, clean energy loan programs have supported a large and diverse portfolio of wind, solar, nuclear, and automotive ventures. “The portfolio was supposed to take some risks; not every investment is going to succeed. The track record is quite remarkable,” he said.

Another key point of Moniz’s address was to reject the notion that the president’s Climate Action Plan encourages a “war on coal” by cutting carbon emissions from both new and existing power plants. He said that the goal is not to eliminate coal as an energy source, but to invest in technologies that allow fossil fuels to have a place in a low-carbon world. Such technologies include carbon capture and sequestration (CCS) and loan guarantees for new fossil fuel technologies.

Watch the video above for full remarks on the secretary’s energy policy.

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